We have been led to believe that oil and gas prices are set on the basis of demand & futures trading.
As I see it, this is one of 2 things: An epitaph on confidence in the world economy (makes you wonder what traders know that we don’t) or a ‘grand manipulation’.
On the latter, the big question is who has the $$ to manipulate world markets and who benefits from a temporary oil crash?
Regardless, there is one thing certain: An ‘event or events’ will occur that will cause the price of oil to skyrocket in response.
It’s so nice to live in a world governed & manipulated by people with such power... /s
In the meantime, those with simpler minds will all rejoice at the lower prices at the pump, oblivious to what it all means, geo-politically, economically and to world stability.
The Central Banks can do it by short selling. The closest study and evidence of this has been done by GATA in the gold market. They get nowhere in the courts though. It's locked down tight.